Annexure 2 - MCX

Instructions to fill Agreement for Transfer of Membership
Annexure 2
1. The agreement has to be executed on a Non-judicial stamp paper of Rs. 300/- or
the value prevailing in the state, whichever is higher.
2. Please ensure that each and every blank in the agreement is duly filled
3. Please ensure that each and every handwritten details filled is to be
countersigned by the authorized signatories of Transferor & Transferee and to
affix rubber stamp respectively.
4. Members are requested to obtain the signature of the authorized signatories and
rubber stamp on each and every page of the agreement
5. Obtain signature of two witnesses on the last page of the agreement.
6. The agreement is to be notarized.
Agreement for Transfer of Membership
This Agreement made and executed at _______________ on this ________ day of
______________
By and Between
_________________________________________________________________ at
___________________________________________________________________
hereinafter referred to as “Transferor”, which expression shall, unless excluded by
or repugnant to the subject or context thereof, mean and include its affiliates,
successors, successors-in-office and permitted assigns) through its Director or his /
her designated representative of the FIRST PART
AND
_________________________________________________________________at
________________________________ (hereinafter referred to as “Transferee”,
which expression shall, unless excluded by or repugnant to the subject or context
thereof, mean and include its affiliates, successors, successors-in-office and
permitted assigns) through its Director or his / her designated representative of the
SECOND PART
________________________
Signature of the Transferor
Rubber Stamp
_______________________
Signature of the Transferee
Rubber Stamp
Notary (Stamp & Seal)

Transferor and Transferee are referred to jointly herein as “the Parties” and severally
as a “Party” to this Agreement.
Transferor is a full fledged trading cum clearing member of Multi Commodity
Exchange (MCX) registered on_______________having Membership
ID______________and UMC No.__________________________________.
Transferee____________________________________(Give details of transferee)
Transferee is desirous of acquiring the membership rights of MCX from the
Transferor and the Transferor has decided to transfer his/her/ their Membership
right of MCX to the Transferee subject to approval of MCX and as per the provisions
of Bye-Laws, Business Rules, Rules including Circulars and instructions issued by
MCX from time to time.
NOW IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS
FOLLOWS:
1. The transfer of this Membership shall be subject to the compliance by Transferor and
transferee of all the provisions of Bye-Laws, Rules and Business Rules including
Circulars and instructions issued by MCX from time to time. The Transfer shall be
further subject to the Forward Contracts (Regulations) Act, 1952 (hereinafter
referred to as “FCRA”, the Forward Contracts (Regulation) Rules, 1954 (hereinafter
referred to as “FCRR”) all amended from time to time and the rules, regulations,
directives, orders, guidelines, norms and circulars issued by the Government of India
and / or FMC there under from time to time.
The Transfer shall also be subject to appropriate approvals from the competent
authority of MCX
2. The Transferor shall be responsible to pay all the outstanding dues of MCX and
FMC if any including the payment of Annual Subscription of MCX, Stamp duty,
Service Charges, fines, penalties, transaction charges, taxes, duties, claims and
all other dues and charges and all other liabilities arising due to business / work
carried on by the Transferor during the period his/its Membership.
______________________
Signature of the Transferor
Rubber Stamp
______________________
Signature of the Transferee
Rubber Stamp
Notary (Stamp & Seal)

3. The consideration agreed and payable by the Transferee to the Transferor for
acquiring the Membership right of MCX shall be Rs. ____________(Rupees
_______________________________ only). The consideration agreed upon
herein is paid by the Transferee to the Transferor vide Demand Draft / Pay Order
/ Cheque No. _______ dated _______________ for Rs. ___________ (Rupees
_________________________________ only), which the Transferor hereby
acknowledges as full consideration received for the Membership of the Exchange.
4. The Transferor will be liable for all the outstanding dues, claims and charges,
fees and other dues payable to constituents.
5. That the Transferor shall extend his/its full co-operation and sign all such papers
and documents as required.
6. That the Transferor and the Transferee agree and acknowledge that they will
execute an undertaking as per the format provided by MCX.
7. The Transferee is aware that the transfer agreement will not entitle him to
become the Member of MCX automatically and that he/she should be otherwise
qualified to be Member of MCX as per the Bye-Laws, Rules and Business Rules
including Circulars and instructions issued by MCX from time to time. Transferee
represented that he is qualified to become Member of MCX including having
appropriate net worth and is not a director/ partner/ associate/holding company
or subsidiary of an existing member of MCX.
8. In the event of failure on the part of Transferor to pay all the outstanding dues of
MCX or FMC including the payment of Annual Subscription of MCX and FMC,
Stamp duty, Service Taxes / Charges, fines, penalties, Transaction charges and
all other dues and charges and all other liabilities arising due to business / work
carried on by the Transferor during his/its Membership, the said amount shall be
paid by the Transferee upon the latter’s admission in MCX as instructed by MCX
& FMC from time to time.
9. It is further agreed by the Transferor that for any claims before arbitration/ courts
arising out of the transaction by the Transferor before transfer, that the Transferor
pleads himself will be a party and abide by the decision of the court/ arbitrator.
10. The Transferee understands and acknowledges that he/she can become
Member of MCX only upon:
a) the Transferor has cleared all his/its dues to MCX and FMC if any up to the date
of approval of the said transfer by the Exchange.
________________________
Signature of the Transferor
Rubber Stamp
_______________________
Signature of the Transferee
Rubber Stamp
Notary (Stamp & Seal)

) the Transferee has completed all the formalities with the Exchange for his/its
registration as a Member including the payment of security deposit, processing
charges to MCX and submission of all the information and the documents
required for his/its registration as a Member of the Exchange.
c) the Membership Committee has recommended to approve the proposed transfer
request and the Executive committee of the Exchange has admitted the
Transferee as a Member of the Exchange ,
Provided further that if after admitting the Transferee as a Member of the
Exchange by the Board, FMC does not register the Transferee as a Member of the
Exchange for any reason what so ever, the Membership shall provisionally
continue till such time to be in the name of the Transferee till he/she transfer her/
his/its Membership in favor of another prospective eligible Member without any
recourse to the Exchange or the Transferor.
Provided further that admission of Transferee as a member of MCX does not and
can not give raise to any presumption whatsoever that transferor had cleared all
the dues and settled all the claims.
11. The Transferor has agreed to transfer the following documents/ registers to the
Transferee:
a)
b)
which the Transferee hereby acknowledges the receipt of the same from the
Transferor.
12. This Agreement is subject to laws of India and to the exclusive jurisdiction of courts
in India.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the
day and the year first above written.
SIGNED by, for and on behalf of
____________________________
Signature of Transferor with Rubber
Stamp
(Authorized Signatory)
Name:
Title:
(Name of the entity)
Date:
Witnesses 1:
Signature, Name & address:
Witnesses 2:
Signature, Name & address:
SIGNED by, for and on behalf of
___________________________
Signature of Transferee with Rubber
Stamp
(Authorized Signatory)
Name:
Title:
(Name of the entity)
Date:
Witnesses 1:
Signature, Name & address:
Witnesses 2:
Signature, Name & address:
Notary (Stamp & Seal)